|Title||20170110_BSC_Vietnam Company Visit Note_EN_DBD_ICB4577|
|Report Type||Báo cáo chuyên đề|
Date : 17/01/2017
Total pages : 8
Language : English
File Type : .PDF
FileSize : 573 Kb
|Vote||(You must be logged in to vote)|
We recommend Strong Buy DBD at the target price of VND 42,800/share, upside 71%. On Jan 12th 2017, Bidiphar listed stocks on Upcom as code DBD with the reference price of VND 25,000/share, equivalent to P/E of 7.7x and P/B of 1.68x, which is relatively attractive compared with the median of peers (P/E of 13.2x and P/B of 2.15x). Bidiphar is one of the leading pharmaceutical enterprises in Vietnam on product quality, production technology, and diverse drug portfolio with high potential development. Business results are expected to improve thanks to consumption growth and the contribution from new factories under the standards PICs.
Business results. Net revevnue and profit before tax in 2016 is estimated at VND 1.500 billion (+22% yoy) and VND 170 billion respectively, equivalent to EPS 2016 of VND 2,596/share. We project 2017 net revenue and net income reach VND 1.630 billion (+9% yoy) and VND 152 billion (+12% yoy) respectively, equivalent to EPS 2017 of VND 2.909/share..